John W. Goff, owner of the Goff Group, may face at least 20 years in prison after his conviction yon charges of mail fraud, embezzlement and filing false documents.
When the SEC declared that equity index annuities are securities last year, it ignored the McCarran-Ferguson Act.
The Hartford (Conn.) Financial Services Group Inc. yesterday said that would no longer be able to participate in a federal commercial paper program.
The Hartford (Conn.) Financial Services Group received approval from the Connecticut insurance commissioner to change accounting practices.
Insurers are eager to continue developing products in the variable annuity arena — with the search for ways to reduce risk as a top priority.
Providers will push forward with the development of the income guarantee paired with a unified managed account, and with other vehicles, despite hurdles.
The Retirement Income Industry Association gave a sneak peek into an initiative designed to encourage financial advisers to take a risk management approach.
Seeking to wrest market share from the asset management industry, life insurance executives will embark on a campaign of simplified consumer communications and stress real-life contexts for the use of their products.
Advisers are admitting now more than ever before that insurers’ solvency and financial strength are at the forefront in their minds when they recommend products.
Client interest in establishing spendthrift trusts for beneficiaries is picking up steam, partly due to the fact that wealthy clients are becoming more risk-averse, according to financial advisers.
Mary Jo Hudson, director of the Ohio Department of Insurance, yesterday adopted three accounting rule changes that would grant insurers based there some reserve relief.
The Hartford (Conn.) Financial Services Group Inc. limped through the fourth quarter of 2008, racking up a net loss of $806 million.
After forecasting dismal 2008 results, Swiss Reinsurance Group has announced that it will receive a capital infusion from billionaire Warren E. Buffett.
Will Fuller has joined Lincoln Financial Distributors of Philadelphia as president and chief executive, effective Feb. 13.
ING Groep has sold off its 70% stake in its Canadian property/casualty unit, ING Canada Inc., in an attempt to bulk up its balance sheets.
The Department of Labor today delayed implementation of a rule that would have allowed most investment advisers to give specific advice to 401(k) participants.
Iowa’s insurance commissioner yesterday posted a bulletin that would allow life insurers in that state to apply deferred tax assets toward 15% of their statutory capital and surplus levels.
Aviva announced that full-year 2008 life insurance and pension sales hit a company record of 11.9 billion pounds ($17.2 billion) in the United Kingdom.
A National Association of Insurance Commissioners executive group last Thursday vetoed a proposal from the insurance industry to loosen required capital and surplus levels.
The troubles that hit variable annuity insurers last year will follow them into this year, further denting their financial strength, according to a report from Standard and Poor’s in New York.
